September 23, 2025
Dear Credit Union Leaders,
Fall is here! All of our football is in an okay space, but c’mon Tigers!! As we cross our fingers and hope for post-season baseball, here are the updates you need.
Advocacy
In Lansing, budget talks remain the dominant focus. While it feels like the various sides are drawing closer to the framework of a deal, worries about a possible government shutdown still remain. If a compromise isn’t reached and passed by midnight on Sept. 30, non-essential functions will shut down for the first time since 2009 until the process is complete. MCUL Advocacy continues to advocate for inclusion of state-level funding for CDFIs, and we continue to work with House and Senate leadership and committee leaders. As a reminder, the budget passed by the Senate earlier this summer included $2 million; while too small, it represents a placeholder for the program as we advocate for a more permanent statutory home for the state fund and also provides a platform to advocate for increased funding in the current process. The House eliminated the line, but we expect the topic is a point of discussion between the chambers and we are grateful for the growing support in the House.
In Washington, D.C., the focus is also on budget, with the U.S. House expected to pass a “clean” continuing resolution to continue funding into the next fiscal year. Should that happen, the U.S. Senate may have to schedule over a recess period to complete work by the Sept. 30 deadline. If a federal shutdown should occur (or a state one!), MCUL will be looking for examples of how our credit unions are helping affected members and families!
Also federally, the following priorities are noteworthy:
The U.S. House passed its version of the National Defense Authorization Act. The bill passed clean of amendments, in particular hostile interchange efforts, and now travels to the U.S. Senate for further action. There is bipartisan support from the U.S. Senate Banking Committee for amendments related to the CDFI Fund and the Central Liquidity Facility that may help their chances of being added, but likelihood is still not certain. MCUL, America’s Credit Unions, and the state Leagues oppose efforts to include harmful interchange amendments to the NDAA, and support efforts to add beneficial provisions that will help credit unions and their members.
In case you missed it, H.R. 2808, the Homebuyers Privacy Protection Act dealing with mortgage trigger leads, was signed into law last Friday. The bill prohibits a credit reporting agency from providing a consumer's credit report to a third party in connection with a residential mortgage transaction unless the transaction consists of a firm offer of credit or insurance and either the third party provides documentation certifying that it has the consumer's consent; or the third party has originated a mortgage on behalf of the consumer, is a current mortgage loan servicer to the consumer, or has a current specified banking relationship with the consumer (ie. is their bank or credit union). It will become effective next March. MCUL, America’s Credit Unions and the state Leagues supported the bill.
Grassroots and Advocacy Funding
Hike the Hill took place from Sept. 15-17 in Washington, D.C. and thank you to all of our advocates for joining us! Our groups were able to meet with all but one of our federal offices, and discussed issues ranging from interchange to FCUA modernizations, and thanked our delegation for their universal support of the credit union tax exemption. Our focus now turns to the 2026 America’s Credit Unions GAC. You can register for the event at: Governmental Affairs Conference 2026 | America's Credit Unions. For those that have and that have submitted their information to Todd (Todd.Jorns@mcul.org), hotel information will be forthcoming ASAP – you haven’t missed anything! Stay tuned and our team will be in touch.
If you are near Marquette on Oct. 2, please consider joining in for the “PAC U.P. the Pub!” event to benefit our state PAC! If you are a credit union member or employee attending the U.P. Chapter’s Growth Summit or Mortgage Loan Originator Training events (or just a credit union member or employee in the area!) please consider joining with a personal contribution at: PAC UP the Pub! - Michigan Credit Union League. We’ve been thrilled to see so many folks signing up already – don’t miss out on the fun!!
Elections
Former U.S. Rep. Mike Rogers still remains the only formally announced candidate for the Republican nod for U.S. Senate next year. There have been no recent additions into the Democrat’s primary race for the U.S. Senate seat, with state Sen. Mallory McMorrow, Dr. Abdul El-Sayed, and U.S. Rep. Haley Stevens as the announced candidates in that field.
Lt. Gov. Garlin Gilchrist II, Secretary of State Jocelyn Benson, and Genesee County Sheriff Chris Swanson have all announced they will seek the Democrat nomination for Governor next year, along with Detroit Mayor Mike Duggan seeking the office as an Independent. Former Attorney General Mike Cox, U.S. Rep. John James, state Senate Minority Leader Aric Nesbitt, and former state House Speaker Tom Leonard have announced they will seek the Republican nomination.
As always, thank you for all that you do for Michigan’s credit unions!
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